First Personal Financial Services cut its position in shares of NRG Energy Inc (NYSE:NRG) by 60.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,165 shares of the utilities provider’s stock after selling 12,558 shares during the period. First Personal Financial Services’ holdings in NRG Energy were worth $249,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NRG. Tower Research Capital LLC TRC lifted its holdings in NRG Energy by 3,685.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,785 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 3,685 shares in the last quarter. NuWave Investment Management LLC purchased a new position in NRG Energy during the fourth quarter valued at $116,000. IFP Advisors Inc lifted its holdings in NRG Energy by 112.2% during the first quarter. IFP Advisors Inc now owns 4,352 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 2,301 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in NRG Energy by 122.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 4,815 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 2,653 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in NRG Energy by 54.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,076 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 2,148 shares in the last quarter. 90.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on NRG. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Bank of America began coverage on shares of NRG Energy in a report on Thursday. They set a “buy” rating and a $37.00 price objective on the stock. TheStreet raised shares of NRG Energy from a “d+” rating to a “c-” rating in a report on Wednesday, March 21st. UBS began coverage on shares of NRG Energy in a report on Friday, February 23rd. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.00.
NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, May 3rd. The utilities provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.73. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. NRG Energy had a negative net margin of 16.04% and a positive return on equity of 26.42%. NRG Energy’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities research analysts predict that NRG Energy Inc will post 3.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, April 30th. NRG Energy’s dividend payout ratio (DPR) is 11.01%.
NRG Energy announced that its Board of Directors has approved a share buyback plan on Thursday, March 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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